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Fascinating stuff! I think that the author left out one crucial point: purchasing power. Per Pew Research[0], wages have not kept up with inflation. EDIT: Until
by wagegrowthrow 7y ago
Fascinating stuff! I think that the author left out one crucial point: purchasing power. Per Pew Research[0], wages have not kept up with inflation. EDIT: Until recently! I do wonder if the creation. of a perception of increased expense has to do with the state of wages before the last decade.
[0] https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us...
- lacker 7y agoA bit of a nitpick but I think you are misrepresenting that link, it actually shows average wages rising a small amount in purchasing power, about 10%, over the time period analyzed.
- wagegrowthrow 7y agoThank you for the correction! I was bamboozled by the charts :) I do still wonder if actual purchasing power has really kept up - the article does note that the increase in benefit costs may eat into wages.